Zinc One and Forrester Sign Definitive Agreement to Establish a Zinc Focused Exploration and Development Company

Zinc One Resources Inc. (TSX-V: Z) (“Zinc One”) and Forrester Metals Inc. (TSX-V: VEM.H) (“Forrester”) are pleased to announce, further to their news release on February 1, 2017, that they have entered into a definitive arrangement agreement (the “Agreement”) whereby Zinc One has agreed to acquire all of the issued and outstanding common shares of Forrester (the “Transaction”) and complete a private placement financing of $10,000,000 (the “Private Placement Financing”).  Zinc One’s acquisition of Forrester is based on a positive outlook for the zinc price and the attractiveness of the zinc assets contained in the Forrester portfolio.
As quoted in the press release:

Jim Walchuck, CEO of Zinc One, stated “We are pleased that the due diligence process was completed in a timely manner to the satisfaction of both parties.  A much deeper understanding and increased confidence level has been obtained on the projects, particularly the Bongará Project.  Management is now, more than ever, confident in its decision to pursue the acquisition of Forrester and looks forward to advancing the Bongará Project as quickly as possible.”

Click here for the full text release